Vanessa Wittman, the former chief financial officer of Oath and Glossier, has sold the Water Mill residence that she bought back in 2018 before it was completed.
According to town property records, Wittman paid $4.3 million for 68 Summerfield Lane when the new residence by Farrell Building Company was still under construction. The full purchase price was reportedly $8 million.
In a few short years, Wittman saw a big return on her investment. According to The Real Estate Report Inc., Wittman received $13 million from Bridge Housing LLC when the sale closed on March 23.
Before Farrell Building Company redeveloped the property, it was the site of a 2,300-square-foot home. The builder’s plan called for an 8,000-square-foot residence on 0.93 acre with eight bedrooms and 7.5 baths.
Wittman joined Oath, then a subsidiary of Verizon that combined Yahoo, AOL and HuffPost under one umbrella, in 2018. In January of 2019, Oath became Verizon Media. Wittman joined Glossier, a skincare and beauty brand, in early 2019 and retired as CFO this spring.
Staff Writer on Jul 5, 2022